General Discussion
In reply to the discussion: Let me explain one way you are about to get screwed by Obama's $250K tax break? [View all]HiPointDem
(20,729 posts)they can also change the form their income appears in, taking stock options instead of salary, for example, if it's more convenient for tax purposes.
"whether" congress is using the surplus for their own purposes? It's been mandated since the program began: all surpluses are borrowed by the US government & fund the general budget.
No, I didn't want them to keep it in a bank vault. I didn't want them to collect huge surpluses in the first place. It violated the original pay-go design of the program, with the surplus limited to about a year's worth of outgo.
The Reagan era fix amounted to a massive FRAUD on the population similar to the requirement that the Post Office prefund its health care benefits for 80 years or whatever it is, which is making the Post Office insolvent.
The Reagan tax hikes, billed as a fix that would prefund the Boomers' retirements 30 years down the road, was the same kind of deal. It was intended to weaken the institution, not strengthen it, and did NOTHING to fund anything except income tax cuts for billionaires & war.
Here we are, the Boomers are retiring, and the pols are coming again saying THERES NO MONEY WE NEED MORE MONEY. Because the $2.7 TRILLION DOLLARS in the Trust Fund will have to come out of income taxes -- and the rich, who make most of their income from CAPITAL, don't want to pay more income taxes.
They want workers, who make their income from WAGES, to pay TWICE. And they want to destroy support for the program at the same time. The program of finance capital, being enacted at all levels of government, is to direct tax streams into their own pockets.
Our government doesn't HAVE TO borrow money for anything if it doesn't want to. The borrowing is a sleight of hand that ultimately enriches the super-rich and the finance sector through a convoluted sleight of hand similar to the one they pulled on Social Security.